S&P 500 and Nasdaq stock index futures gained slightly on Wednesday after data showed a smaller-than-expected drop in U.S. retail sales in September.

Futures pointed to a sharply higher open, boosted by strong quarterly results from JP Morgan Chase & Co , and stronger numbers and a robust outlook from Intel Corp.

S&P 500 futures rose 15.00 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures jumped 97 points, and Nasdaq futures advanced 24.00 points.

(Reporting by Edward Krudy)